Reliance Infrastructure (R-Infra), an Anil Dhirubhai Ambani Group company, is on the warpath with the state electricity regulator. Stung by the Maharashtra Electricity Regulatory Commission's (MERC's) decision to invite expressions of interest (EoIs) for the distribution of power to Mumbai's suburbs, R-Infra is examining the possibility of legal action.
Raghu Pillai, former director and CEO (operations, strategy and business development) of Reliance Retail, today took over as the chief executive of Kishore Biyani's Future Value Retail. An industry veteran, Pillai talks about his new role with Business Standard.
The real estate sector in Maharashtra foresees a loss of Rs 2,000 crore (Rs 20 billion) due to the ban on extraction of sand by the Bombay High Court. The realty industry has sought the intervention of the state government to tackle the crisis.
Amidst the hype over a nuclear renaissance in India, state-run Nuclear Power Corporationhas threatened to close down two units of the Tarapur Atomic Power Station on the grounds of safety and security.
A Congress bastion over the years, the tribal dominated Nandurbar district in Maharashtra has been chosen for the launch of Aadhaar, the unique identity (UID) numbers.
Nearly 120 of the 257 auto fuel pumps in Mumbai face closure, as oil marketing companies (OMCs) have lost their earlier protection under the Maharashtra Rent Control Act. They were enjoying protection from eviction by the land owners prior to 2005. However, after the rule was amended, they lost it and were served with eviction notices by the owners as soon as the lease period expired.
EAC told Cidco during a meeting that it would visit the site in the third week of October before finalising its report. Cidco had clarified its stand on 61 points relating to the proposed airport and reiterated that there was no alternative site.
Mumbai's realty sector, which is slowly recovering from the financial slowdown, is set to receive a major boost. At least 100 million sq ft of additional floor space, valued at `1 lakh crore, will be available immediately for the redevelopment of 19,000 old and dilapidated buildings, slums, fishermen colonies and other structures situated in the Coastal Regulation Zone.
Dow Chemical Company is once bitten, twice shy. Close on the heels of its US parent's move to deny liability for damages resulting from the Bhopal gas tragedy at a plant run by Union Carbide (a company it had bought), Dow India has called off a greenfield project to establish a research & development facility in Maharashtra.
Financing of solar projects under the Centre's ambitious national solar mission has hit a major roadblock as banks have argued that the current structure of the power-purchase agreement was not bankable due to the credibility of many states.
The proposed expansion of the Dabhol power project under Ratnagiri Gas & Power Pvt Ltd (RGPPL) by 2,100 Mw from the present capacity of 1,940 Mw has been stalled for want of assured gas supply from the KG-D6 gas field, operated by Reliance Industries Ltd, and adequate number of power procuring states.
Planning Commission member Arun Maira said on Thursday a panel chaired by him had not recommended a blanket ban on the import of power and other capital equipment from China and other countries.
Kishore Biyani, the founder of Future Group, is treading cautiously with the initial public offer of his venture capital arm, Future Ventures, this time.
This comes close on the heels of the ministry's stand on the development of a new international airport in Navi Mumbai.
The Indian stock market is in the midst of a great bull run. Indiabulls, a prominent name in the financial services arena, applies for a licence for mutual fund operations.
Ministry sources told Business Standard that necessary action would be taken to amend the Act to include penalty for non-compliance and modify the procedure to decide the penalty and punishment under the Act.
Last week, Indiabulls Infratech, part of the Indiabulls group, bagged NTC's Bharath Mill land, spread over 8.3 acres, in Mumbai for Rs 1,505 crore (Rs 15.05 billion).
The Raigad district administration has asked RIL to submit details regarding production and safety measures at the plant.
CERC keeping an eye on movement of prices.
The UI rate is a variable depending on the grid frequency.
